Shares of Beyond Meat, Inc. (BYND) skyrocketed 76.86% on Tuesday, continuing a torrid rally that has seen the stock surge nearly 300% since the start of the week. The latest surge comes as the plant-based meat company announced plans to expand its distribution at Walmart stores and as retail investors on social media platforms fuel a meme stock-like frenzy.

Beyond Meat revealed early Tuesday that it will increase the availability of select products at over 2,000 Walmart stores nationwide. The expansion includes the introduction of the new Beyond Burger 6-Pack, featuring the company's latest burger in a convenient value pack. This move aims to provide more consumers with access to Beyond's products and address concerns about rising food prices.

The Walmart partnership news appears to have added fuel to an already raging fire, as Beyond Meat's stock has been the target of intense speculation and trading activity in recent days. The company's shares have drawn comparisons to the meme stock phenomenon of 2021, with retail investors on platforms like Reddit driving up the price despite the company's ongoing profitability challenges.

Trading volume has exploded, with over 1.2 billion shares changing hands on Monday alone – a staggering 3,080% above the company's 30-day average volume. The surge has been particularly painful for short sellers, who have reportedly suffered $50 million in losses since the start of the week. Beyond Meat's high short interest, with over 60% of its float sold short, has likely contributed to the magnitude of the price movement as short sellers scramble to cover their positions.

While the recent rally has provided a reprieve for the beleaguered company, whose stock had fallen to record lows last week, investors should remain cautious. Beyond Meat continues to face fundamental challenges, including declining revenue and ongoing profitability issues. The company's ability to capitalize on this renewed attention and translate it into sustainable business growth remains to be seen.